With a Home Equity Line of Credit loan from OCCU… almost anything is possible!
Using the equity you’ve already built in your home can be a low cost option to tackle a home improvement project, college education, an awesome vacation, debt consolidation, medical expenses, etc. With an OCCU Home Equity Line of Credit you can choose either a fixed or variable rate. Apply just once and access your credit limit for up to a full 12 years on a variable rate HELOC or a 5 year draw on a fixed rate HELOC.
- Variable and fixed rates as low as 4.75%-6.25 APR*
- Credit lines up to $200,000*
- Convenient and easy access to funds
- Borrow purchase-by-purchase up to your credit limit
- Available on your primary home in Washington
- Access your equity line for 12-years on a variable rate option or 5 years on a fixed rate
- One time origination fee of $400 built into your home equity line of credit
- No annual fee or prepayment penalties
- Possible tax deduction on interest paid – consult your tax adviser
*The APR-Annual Percentage Rate, rates are subject to change. Loan is based on creditworthiness, occupancy, property loan to value. Other restrictions apply. Subject to approval and must be a member in good standing. Ask for details. Please call us for your qualifying rate.
- 7.50% APR*
- 25% Down Required on all Purchases
- Maximum Term: 180 Months (15 years)
- Maximum Acreage: 40
- OCCU Finances Raw Land
*Annual Percentage Rate. Financing up to 75% of the property’s value, or 75% of the purchase price is required on purchase transactions. For example; loan amount $100,000, down payment of 25%($25,000),1% processing fee (based on the amount financed). Third party fees may apply: appraisal ($500-$700), title insurance, filing fees and/or escrow incurred by OCCU during the loan process. No prepayment penalties or balloon payments. After the loan has been fully paid, a conveyance fee will be charged by Trustee Services Inc. to remove the Deed of Trust.
Tracy Dickinson, Mortgage Center Loan Officer
Contact us today for more information! (360) 426-9701 or toll free at (800) 426-5657.